State Lawmakers Want to Rein In Prescription Drug Price Increases
Democrats plan to introduce legislation this week
State lawmakers are headed back to work this week. Democrats say they are anxious to introduce a bill aimed at preventing price gouging by pharmaceutical companies. Prescription drug prices across the country increased an average of 10% in 2016 with some prices increasing as much as 2000%. State House Democratic Leader, Sam Singh, tells WDET’s Amy Miller that one example is the life-saving Epi Pen which he says costs $30 to manufacture, but retails for as much as $600. Singh says the state needs to have more oversight.
“Anytime a drug company was going to increase the price by 10% in one year or 30% over five years they would have to go before the protection board and make their case and explain why they were doing that. If they don’t do that then there’s a series of penalties that would be accrued against that company” – Sam Singh
To hear the entire conversation click on the audio link above
